Cashmonkies Frugal Blog

In this busy world that we live in today, most of us don’t seem to take the time to read the fine print on many things. I don’t know why we don’t seem to take that time, because if we did, it really could end up saving us a ton of cash in the long run. So lesson of the day? Read that fine print. Here are some examples of ways you could be losing a lot of your cash. 

Cell phone Insurance. Now this one can be both ways. So this is something that you really need to pay attention to. Make sure you read every last detail and ask as many questions as you can. You may get lucky and find one worth the money, but chances are you wont. Most companies have their insurance set up to where they will replace your phone if lost or it breaks and cant be fixed. What they don’t tell you is it stats in the contract  it only says that the phone they replace it with only has to be comparable. Do you know what that means? That just means that they don’t have to send you the same one that you currently have. Along with that, more likely than not, you will lose a lot of features as well. So if you have a phone that has a camera on it or something like that, then you probably wont get that back in return. Along with that, you will probably have to pay a deductible. So is it really worth it? Probably not.  

I just cringe at the thought of someone walking into them rent to own places. Sure, it seems like it’s a great deal when your broke and you want something new. But lets really think about it? Why in the world would a store rent you something like a wide screen 50inch TV? Because they are making a lot of cash on that purchase. You end up paying more then triple the purchase cost of for that TV when all is said and done. Their intrest rate is typically set up to 145%. I don’t know about you, but that’s a lot of money wasted. Something that cost around $1500 retail , you end up paying around $5500. What’s the Lesson here? Rent to own places are bad with a capital B.

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